Core Viewpoint - China Ping An reported strong performance in the first half of 2025, with significant growth in core business and ongoing innovation efforts [1][2]. Financial Performance - In the first half of 2025, China Ping An achieved an operating profit of 77.732 billion yuan, a year-on-year increase of 3.7% [1]. - The total revenue reached 500.076 billion yuan, while the equity attributable to shareholders was 943.952 billion yuan, reflecting a 1.7% growth since the beginning of the year [1]. - The new business value for life and health insurance reached 22.335 billion yuan, marking a 39.8% increase year-on-year [1]. Customer Metrics - As of June 30, 2025, the number of individual customers was approximately 247 million, a 1.8% increase from the beginning of the year [1]. - The retention rate for customers holding four or more contracts was 97.8%, with 73.8% of customers having been served for over five years [1]. Marketing Channels - The transformation in marketing channels showed significant results, with the agent channel's new business value increasing by 17.0% and per capita new business value rising by 21.6% [2]. - The bancassurance channel experienced a remarkable growth of 168.6% in new business value [2]. Investment Performance - The investment portfolio achieved a non-annualized comprehensive investment return of 3.1%, up by 0.3 percentage points year-on-year [2]. - Over the past decade, the average net investment return was 5.0%, while the average comprehensive investment return was 5.1% [2]. - The company reported approximately 60 billion yuan in unrealized gains not reflected in the profit statement due to significant stock investments [2]. Strategic Focus - The investment strategy focuses on asset-liability matching, considering factors such as duration, cost, cash flow, yield, and regulatory requirements [2]. - The company aims to balance high-yield stocks, value stocks, and growth stocks to optimize returns for clients as the cost of liabilities continues to decrease [3].

Group 1 - The core point of the news is that China Ping An executed a block trade on August 29, with a transaction volume of 240,000 shares and a transaction amount of 13.9944 million yuan, at a price of 58.31 yuan, which represents a discount of 2.62% compared to the closing price of the day [2][3] - In the last three months, China Ping An has had a total of four block trades, with a cumulative transaction amount of 196 million yuan [2] - On the same day, China Ping An's closing price was 59.88 yuan, showing an increase of 1.77%, with a turnover rate of 1.00% and a total transaction amount of 6.489 billion yuan, while the net inflow of main funds was 90.1385 million yuan [2] Group 2 - The latest margin financing balance for China Ping An is 23.031 billion yuan, which has increased by 569 million yuan over the past five days, reflecting a growth rate of 2.53% [3] - In terms of institutional ratings, 15 institutions have provided ratings for the stock in the past five days, with the highest target price estimated by Huatai Securities at 76.00 yuan as of August 27 [3]

香港联交所最新资料显示，8月27日，中国平安（601318）保险(集团)股份有限公司增持邮储银行 （601658）(01658)1433.6万股，每股作价为5.4895港元，总金额约为7869.75万港元。增持后最新持股数 目约为31.89亿股，最新持股比例为16.06%。 ...

智通财经APP获悉，香港联交所最新资料显示，8月27日，中国平安保险(集团)股份有限公司增持邮储银 行(01658)1433.6万股，每股作价为5.4895港元，总金额约为7869.75万港元。增持后最新持股数目约为 31.89亿股，最新持股比例为16.06%。 ...

8月29日，中国平安大宗交易成交24万股，成交额1399.44万元，占当日总成交额的0.22%，成交价58.31元，较市场收盘价59.88元折价2.62%。 | 交易日期 | 证券简称 | 证券代码 | 成交价(元) 成交金额(万元) 成交量( * ) 买入营业部 | | | | 卖出营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | 2025-08-29 | 中国平安 | 601318 | 58.31 1399.44 | 24 | 光大证券股份有限 | 光大证券股份有限 | | | | | | | | 公司宁波柳汀街证 | 公司宁波柳汀街证 | | | | | | | | 4+ == == = | 44 == | | ...

招银国际发表研究报告指，中国平安上半年税后营运利润按年增长3.7%至777亿元，相当于第二季按年 增长4.9%，符合预期。新业务价值按年增长39.8%223亿元，大幅超出预期，主要得益于银保业务。该 行将其目标价由65.1港元上调至71港元，维持"买入"评级。 ...

招银国际发表研究报告指，中国平安上半年税后营运利润按年增长3.7%至777亿元，相当于第二季按年 增长4.9%，符合预期。新业务价值按年增长39.8%223亿元，大幅超出预期，主要得益于银保业务。该 行将其目标价由65.1港元上调至71港元，维持"买入"评级。 ...

消息面上，中国平安上半年整体经营稳健，集团实现归属于母公司股东的营运利润777.32亿元，同比增 长3.7%，归属于母公司股东的净利润680.47亿元。寿险及健康险业务新业务价值同比大增39.8%。此 外，现金分红水平稳定增长，中国平安将向股东派发中期股息每股现金0.95元，同比增长2.2%。 业绩公布后，美银发表研报，预期中国平安全年税后营运利润增长4%，推动全年股息维持稳定增长； 将2025至27年盈利预测上调4%。另外，该行将其H股目标价由62.4港元上调至64.9港元，重申"买入"评 级；A股目标价由60.3元上调至62.7元。(格隆汇) 中国平安A股涨超3.8%，报61.1元，创月内新高；H股涨超3%，报57.9港元。 ...

中国平安8月28日大宗交易平台出现一笔成交，成交量26.00万股，成交金额1516.06万元，大宗交易成交 价为58.31元，相对今日收盘价折价0.90%。该笔交易的买方营业部为光大证券股份有限公司宁波柳汀街 证券营业部，卖方营业部为光大证券股份有限公司宁波柳汀街证券营业部。 进一步统计，近3个月内该股累计发生3笔大宗交易，合计成交金额为1.82亿元。 证券时报·数据宝统计显示，中国平安今日收盘价为58.84元，上涨0.26%，日换手率为0.59%，成交额为 37.34亿元，全天主力资金净流出1.99亿元，近5日该股累计下跌1.31%，近5日资金合计净流出14.37亿 元。 两融数据显示，该股最新融资余额为229.96亿元，近5日增加3.79亿元，增幅为1.67%。 机构评级来看，近5日共有13家机构给予该股评级，预计目标价最高的是华泰证券，8月27日华泰证券发 布的研报预计公司目标价为76.00元。（数据宝） 8月28日中国平安大宗交易一览 | 成交量 | 成交金额 | 成交价 | 相对当日收盘 | | | | --- | --- | --- | --- | --- | --- | | （万 | （万元） ...

Core Viewpoint - China Ping An reported its 2025 interim results, showing a revenue of 500.76 billion RMB and an operating profit of 77.732 billion RMB, with a year-on-year growth of 3.7% in operating profit [1] Group 1: Financial Performance - The company plans to distribute an interim dividend of 0.95 RMB per share, reflecting a year-on-year increase of 2.2% [1] - As of June 30, 2025, the insurance fund investment portfolio exceeded 6.20 trillion RMB, marking an 8.2% growth since the beginning of the year [2] - The non-annualized comprehensive investment return rate for the insurance fund investment portfolio was 3.1%, up by 0.3 percentage points year-on-year [2] Group 2: Investment Strategy - The company has increased its stock holdings from 7.6% at the end of last year to 10.5% by the end of June 2025, in response to a favorable market environment and regulatory encouragement for long-term capital [1] - The management indicated that the current policy environment and market valuations are favorable for insurance capital investments, particularly in low-volatility, high-dividend stocks [1] - The company has initiated a pilot program for gold investments, having completed its first gold transaction in March 2025, aiming to diversify its investment portfolio and hedge risks [1] Group 3: Profit Analysis - The operating profit increased, but the net profit showed a decline, attributed to three key factors, two of which were one-time events [2] - The first factor was a 3.4 billion RMB impairment from the consolidation of Ping An Good Doctor, which impacted growth by 4.6 percentage points [2] - The second factor involved the group's investment performance over the past year, which was also discussed during the earnings call [2]